Population Statistic: Read. React. Repeat.
Monday, December 10, 2021

It’s the end result of a natural progression, but still, imeem’s announcement of a licensing deal with Universal Music Group just might be the catalyst for the emergence of full-fledged online social networks centered around music.

At least that’s what Forrester Research’s principal analyst James McQuivey thinks:

“2008 is going to be the year of music labels trying to put themselves in front of everyone, no matter what business model it takes,” said Forrester’s McQuivey. “The labels have realized that you have to be everywhere on the Web, because the customer is everywhere. You need to put yourself in front of them when they make their entertainment decisions.”

McQuivey said that imeem has a big head start compared to other social networking sites, Although large sites like MySpace and Facebook could definitely elbow in with major label deals of their own.

“The great thing about imeem is that it builds on the best of radio and MP3,” said McQuivey. “This is a great place to listen to your favorite music and discover new songs.”

In my experience, once the analysts weigh in definitively, the money guys start tripping over themselves to join in. Imeem, despite being little more than a roll-your-own streaming radio station, has positioned itself through the Universal deal (along with similar licensing with other major labels) to make the music industry feel protected enough to toss in their assets.

Naturally, I see a resultant big opening for 8trk, the musical version of IMDb-meets-Wikipedia that I’m helping get going. An inviting environment can make all the difference.

by Costa Tsiokos, Mon 12/10/2021 11:16:07 PM
Category: Pop Culture, Society, 8trk
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